“‘Millennials’ born in the early 1980s are shunning the [housing] market amid concerns about future financial stability, rising expenses and excessive debts. And who is increasingly filling the housing demand hole? Foreign investors, led by cash-rich Chinese buyers!  Housing Wire notes that foreign buyers purchased just over $92 billion worth of U.S. real estate in the year ending in March, up sharply from $68 billion a year earlier. A whopping 60% of them paid all cash, compared to one-third of domestic buyers.  Chinese buyers spent $22 billion of that total, the largest percentage by dollar volume. They now account for 16 percent of all foreign purchases, triple the level of just a few years ago.”

http://www.moneyandmarkets.com/real-estate-millennials-chinese-buyers-63102

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy